Minneapolis › Standish

3809 28th Ave S

Minneapolis, MN · Standish · View the listing ↗

Cash flows

63 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Needs more info before these numbers mean much. The city's rental license covers 4 unit(s); this analysis counts 5.

Asking price: $614,990
Monthly cash flow: $266
Estimated rent: $6,725/mo
Break-even price: $665,010

Adjust the numbers See the full breakdown

From the listing

Classic Minneapolis stucco fourplex with four one bedroom, one bath apartments available for a new owner! The front has traditional brown shutters, vintage 1920's styling and a red entry awning. Inside, strip oak hardwood floors, arched plaster openings, cast iron radiators heated by gas boilers and Art-Deco windows run through the apartments, with dark stained woodwork in many living and dining rooms. Bathrooms have white tile, glass block windows and pedestal sinks. Unit 1 is vacant and has ceiling fans, a white steel kitchen with vintage built-in drainboard sink as well as recently refinished floors. Behind the building are a fenced back yard and a three-stall garage, with spaces renting separately, plus one additional assigned parking space. All garage spaces and additional parking is currently leased. Each unit has a private basement storage room, and the building has coin laundry. Tenants pay their own gas and electric. The owner pays water, sewer and trash. Four more storage rooms and a pet fee are not in current income. Units 2 to 4 are leased into 2027. This would also make an excellent property to "house hack" with owner living in the vacant unit and having the other Units pay a considerable portion of the payment every month! This property is just a short walk from the 38th Street LRT station for easy commuting. Lake Hiawatha with its walking paths and the golf course are nearby, along with Northbound Smokehouse & Brew Pub, Key West Coffee and Aluvava gluten-free bakery! Don't miss the opportunity to own a great investment property in the very desirable Minneapolis Standish neighborhood!

Listing courtesy of RE/MAX Results (Taylor Doolittle). Description from Realtor.com, MLS #7151695. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $614,990
Cash to close: $141,448
Price per unit: $122,998
GRM: 7.6

Each month

Cash flow: $266/mo
Cash-on-cash: 2.3%
Cap rate: 6.9%
DSCR: 1.08×

Break-even

Price that breaks even: $665,010
Rent that breaks even: $6,384/mo

Long run

Year 30: property vs stocks: $3.04M vs $1.08M
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$6,725
Vacancy (6%)	−$404
Collected	$6,322
Property tax Public record	−$784
Insurance Estimate	−$438
Water, sewer, trash Estimate	−$425
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$538
Capital reserve (8% of rent)	−$538
Net operating income	$3,539
Mortgage (principal + interest)	−$3,273
Cash flow	$266
Principal paid down (equity, not cash)	$416

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $553,491 of principal by year 30	$0
Plus rental profits, invested at 7%$611,881 of profit by year 30, before investment growth	$1,175,122
What you'd walk away with	$2,578,300
If you put the same money in stocks
Cash to close ($79,949) invested at 7%	$608,590
Monthly shortfalls ($16,307 total by yr 30) investedThe money you'd have put into the building while it lost money	$107,737
What you'd walk away with	$716,327
Building minus stocks	$1,861,973

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $553,491 of principal by year 30	$0
Plus rental profits, invested at 7%$327,221 of profit by year 30, before investment growth	$532,558
What you'd walk away with	$1,935,736
If you put the same money in stocks
Cash to close ($79,949) invested at 7%	$608,590
Monthly shortfalls ($56,455 total by yr 30) investedThe money you'd have put into the building while it lost money	$350,150
What you'd walk away with	$958,740
Building minus stocks	$976,996

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $544,491 of principal by year 30	$0
Plus rental profits, invested at 7%$630,563 of profit by year 30, before investment growth	$1,224,468
What you'd walk away with	$2,604,830
If you put the same money in stocks
Cash to close ($78,649) invested at 7%	$598,694
Monthly shortfalls ($13,163 total by yr 30) investedThe money you'd have put into the building while it lost money	$87,470
What you'd walk away with	$686,164
Building minus stocks	$1,918,666

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $544,491 of principal by year 30	$0
Plus rental profits, invested at 7%$342,971 of profit by year 30, before investment growth	$567,532
What you'd walk away with	$1,947,894
If you put the same money in stocks
Cash to close ($78,649) invested at 7%	$598,694
Monthly shortfalls ($50,379 total by yr 30) investedThe money you'd have put into the building while it lost money	$315,511
What you'd walk away with	$914,205
Building minus stocks	$1,033,689

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $491,992 of principal by year 30	$0
Plus rental profits, invested at 7%$759,474 of profit by year 30, before investment growth	$1,638,209
What you'd walk away with	$3,041,387
If you put the same money in stocks
Cash to close ($141,448) invested at 7%	$1,076,736
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,076,736
Building minus stocks	$1,964,651

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $491,992 of principal by year 30	$0
Plus rental profits, invested at 7%$443,292 of profit by year 30, before investment growth	$810,994
What you'd walk away with	$2,214,171
If you put the same money in stocks
Cash to close ($141,448) invested at 7%	$1,076,736
Monthly shortfalls ($8,625 total by yr 30) investedThe money you'd have put into the building while it lost money	$57,762
What you'd walk away with	$1,134,498
Building minus stocks	$1,079,673

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $483,992 of principal by year 30	$0
Plus rental profits, invested at 7%$778,635 of profit by year 30, before investment growth	$1,698,540
What you'd walk away with	$3,078,902
If you put the same money in stocks
Cash to close ($139,148) invested at 7%	$1,059,228
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,059,228
Building minus stocks	$2,019,674

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $483,992 of principal by year 30	$0
Plus rental profits, invested at 7%$459,898 of profit by year 30, before investment growth	$854,857
What you'd walk away with	$2,235,218
If you put the same money in stocks
Cash to close ($139,148) invested at 7%	$1,059,228
Monthly shortfalls ($6,071 total by yr 30) investedThe money you'd have put into the building while it lost money	$41,293
What you'd walk away with	$1,100,521
Building minus stocks	$1,134,697

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $461,242 of principal by year 30	$0
Plus rental profits, invested at 7%$833,122 of profit by year 30, before investment growth	$1,870,103
What you'd walk away with	$3,273,281
If you put the same money in stocks
Cash to close ($172,197) invested at 7%	$1,310,809
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,310,809
Building minus stocks	$1,962,472

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,492,742
Minus 6% selling cost	−$89,565
Minus loan still owedTenants' rent paid down all $461,242 of principal by year 30	$0
Plus rental profits, invested at 7%$509,702 of profit by year 30, before investment growth	$994,904
What you'd walk away with	$2,398,081
If you put the same money in stocks
Cash to close ($172,197) invested at 7%	$1,310,809
Monthly shortfalls ($1,388 total by yr 30) investedThe money you'd have put into the building while it lost money	$9,777
What you'd walk away with	$1,320,586
Building minus stocks	$1,077,495

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $453,742 of principal by year 30	$0
Plus rental profits, invested at 7%$851,085 of profit by year 30, before investment growth	$1,926,664
What you'd walk away with	$3,307,025
If you put the same money in stocks
Cash to close ($169,397) invested at 7%	$1,289,495
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$1,289,495
Building minus stocks	$2,017,530

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,468,470
Minus 6% selling cost	−$88,108
Minus loan still owedTenants' rent paid down all $453,742 of principal by year 30	$0
Plus rental profits, invested at 7%$526,856 of profit by year 30, before investment growth	$1,045,805
What you'd walk away with	$2,426,166
If you put the same money in stocks
Cash to close ($169,397) invested at 7%	$1,289,495
Monthly shortfalls ($579 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,118
What you'd walk away with	$1,293,612
Building minus stocks	$1,132,554

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $3.04M, stocks $1.08M. The property wins.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

1 bed estimate $1,375/mo · range $1,100–$1,500 · 6 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3806 28th Ave S, Minneapolis	$1,395	1 / 1	634	0.0 mi	2025-07-14	Apartment
3725 29th Ave S, Minneapolis	$1,615	1 / 1	834	0.1 mi	2025-01-03	Apartment
3815 Hiawatha Ave, Minneapolis	$1,422	1 / 1	568	0.2 mi	2026-07-31	Apartment
3806 24th Ave S, Minneapolis	$1,325	1 / 1	500	0.3 mi	2026-03-01	Apartment
3608 Minnehaha Ave, Minneapolis	$985	1 / 1	450	0.3 mi	2026-05-27	Apartment
4052 Minnehaha Ave, Minneapolis	$1,100	1 / 1	650	0.6 mi	—	Apartment

0 bed estimate $1,225/mo · range $1,125–$1,225 · 10 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
3725 29th Ave S, Minneapolis	$1,255	0 / 1	578	0.1 mi	2025-01-03	Apartment
3815 Hiawatha Ave, Minneapolis	$1,068	0 / 1	320	0.2 mi	2026-07-31	Apartment
3806 24th Ave S, Minneapolis	$1,120	0 / 1	380	0.3 mi	2026-03-01	Apartment
3966 Minnehaha Ave, Minneapolis	$1,495	0 / 1	850	0.5 mi	2026-08-05	Apartment
3625 E 43rd St, Minneapolis	$1,295	0 / 1	569	0.9 mi	2025-01-03	Apartment
3111 E 31st St Apt 5, Minneapolis	$795	0 / 1	475	0.9 mi	—	Apartment
2615 E 29th St, Minneapolis	$1,110	0 / 1	449	1.1 mi	2026-04-01	Apartment
4603 Minnehaha Ave, Minneapolis	$1,302	0 / 1	460	1.3 mi	2026-05-01	Apartment
4720 Longfellow Ave S, Minneapolis	$1,780	0 / 1	609	1.4 mi	2024-04-12	Apartment
4757 Hiawatha Ave, Minneapolis	$1,350	0 / 1	415	1.4 mi	2026-04-07	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

highThe city's rental license covers 4 unit(s); this analysis counts 5. Public record: Minneapolis Active Rental Licenses: 3809 28TH AVE S, units=4
mediumFlat roof per the city assessor: get its age and a moisture inspection. Public record: Hennepin County parcel 1202824110101: roof=Flat, exterior=WOOD
low$88 in special assessments on the current tax bill (often street, sewer or code-enforcement charges). Ask what they're for, whether they continue, and whether the seller pays them off at closing. Public record: Hennepin County parcel 1202824110101: special assessments (current) = $87.72

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Public recordHennepin County record, current payable year (non-homestead)	$9,402
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$5,250
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$425
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. base rate	8% / 8%

Status history

2026-10-02New at $614,990

County record Public record

Recorded as	apartment 4 or 5 unit
Living units	5
Year built	1925
Market value (2026)	$497,000
Property tax	$9,402
Special assessments	$88
Homestead	no
Last sale	2006-10-01 · $340,000

Source: Hennepin County parcel records.

City rental license

CHOWNEXMPT: 4 unit(s), Tier 1, status active, renews 2027-03-01.

Nearest highway

MN 55, about 229 m away.

Crime in Standish

276 incidents in the last 12 months (40 per 1,000 residents), −2% vs. the year before. Minneapolis police incidents, all reported offenses (definitions differ from St. Paul's, so don't compare across cities).